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Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Share-Based Compensation Expense

Total share-based compensation expense was as follows:

			Three Months Ended June 30,												Six Months Ended June 30,
			2025						2024						2025						2024
			(In thousands)
Stock option expense			$	2,853					$	3,517					$	6,116					$	7,026
Restricted stock expense			5,270						5,329						10,325						10,126
Performance restricted stock unit expense			4,726						4,377						5,872						5,012
Total pre-tax expense			$	12,849					$	13,223					$	22,313					$	22,164

Schedule of Weighted Average Assumptions Used for Estimating Fair Values of Stock Options Granted

The following weighted average assumptions were used in the Black-Scholes-Merton model to estimate the fair values of stock options granted during the periods indicated:

			Six Months Ended June 30, 2025						Year Ended December 31, 2024
Expected volatility			22.7		%				28.2		%
Expected term (years)			5.0						5.0
Risk-free interest rate			4.07		%				4.31		%
Expected dividend yield			0.70		%				0.62		%
Black-Scholes-Merton fair value per stock option granted			$	46.21					$	56.42

Schedule of Stock Option Activity and Related Information

The following is a summary of the Company’s stock option activity and related information:

			Shares						Weighted Average Exercise Price						Weighted Average Remaining Contractual Life						Aggregate Intrinsic Value
			(In thousands)												(Years)						(In millions)
Outstanding at December 31, 2024			2,140						$	114.33
Granted			267						176.08
Exercised			(134)						102.66
Forfeited			(27)						159.79
Outstanding at June 30, 2025			2,246						$	121.83					6.4						$	133.0
Exercisable at June 30, 2025			1,728						$	107.70					5.6						$	126.7

Schedule of Nonvested Restricted Stock Activity and Related Information

The following is a summary of the Company’s non-vested restricted stock activity and related information:

			Shares						Weighted Average  Grant Date Fair Value
			(In thousands)
Non-vested restricted stock outstanding at December 31, 2024			277						$	159.71
Granted			163						176.25
Vested			(134)						150.80
Forfeited			(18)						167.84
Non-vested restricted stock outstanding at June 30, 2025			288						$	172.72

The following is a summary of the Company’s non-vested performance restricted stock activity and related information:

			Shares						Weighted Average  Grant Date Fair Value
			(In thousands)
Non-vested performance restricted stock outstanding at December 31, 2024			235						$	150.92
Granted			93						176.08
Performance assumption change 1			8						134.69
Vested			(92)						134.69
Forfeited			(1)						157.01
Non-vested performance restricted stock outstanding at June 30, 2025			243						$	166.13

_________________________________________

1 Reflects the number of PRSUs above target levels based on performance metrics.

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Tabular disclosure of share-based payment arrangement.

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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